John Lee Dumas is one of the most successful podcasters on iTunes. Last year, when he decided to launch a crowdfunding campaign for his “Freedom Journal,” he partnered with Pencils of Promise. He raised $453,000 on Kickstarter and donated $75,000 to the nonprofit. Now he’s at it again. Dumas boasts over 1 million listens to his “Entrepreneur on Fire” podcast every month. You wouldn’t think he “needs” to partner with Pencils of Promise in order to be successful with his campaign. Dumas is a savvy entrepreneur. He’s clearly figured that this is an important part of the strategy.

The advent of crowdfunding has given entrepreneurs who have an idea the opportunity to raise capital from strangers who share their passion.

In 2015, Indiegogo visitors raised $800 million for projects including hardware, technology, media and social impact. Co-founder Danae Ringelmann, 38, says this is where the “Gogofactor” comes in – an algorithm that helps to promote causes that are proving popular and direct them to those who are most likely to be interested.